Fed reaction
It's always interesting to see how traders interpret the smoke signals being flared by the Fed in the aftermath of their latest rate announcement. The S&P 500 jerked lower for a bit, then bottomed about 19 minutes after the release. In the ~45 minutes since, it's been an interesting mix of stocks leading the charge.

Consumer services is leading, with retailing not too far behind. Apparently, traders are taking some comfort in the recovery idea, with hotels and cruise lines being among the biggest beneficiaries.

They might have a tough challenge ahead as the previous highs loom and with the industry already doubling off its March low.

